In a significant development, Box Inc. has successfully acquired Crooze Corp., a pioneer in cloud document automation and content services. This acquisition aims to empower Box users with enhanced tools for managing enterprise documents, contracts, digital assets, and controlled documents.
Box’s Vice President of Product Strategy, Rand Wacker, emphasized the strategic value of this acquisition, stating, “The acquisition gives Box both the talent and the technology Crooze provided for large customers.”
Crooze, co-founded by ex-OpenText executives Alan Monier and Mark Lane, boasts a suite of tools, including a no-code platform for custom business process apps, making it a valuable addition to Box’s arsenal. With 55 of Box’s largest enterprise subscribers already using Crooze’s services, Box aims to extend these functionalities to thousands of its customers.
Notably, Crooze’s technology aligns seamlessly with Box AI, a suite of generative AI features, providing a solution to the challenges of manually tagging metadata. Box plans to integrate Crooze’s metadata tools to streamline processes such as contract lifecycle management (CLM).
Holly Muscolino, an analyst at IDC, commented on the significance of Crooze’s metadata tools, stating, “Metadata is a key component of contract lifecycle management. Up to now, Box had many of the pieces for CLM, but Crooze’s metadata tools help bring it all together.”
Aaron Levie, co-founder and CEO of Box, highlighted the broader vision behind this acquisition, stating, “It’s time to modernize ECM and leave outdated systems behind. Crooze has built advanced ECM capabilities on Box, already working with some of our largest customers.”
Crooze’s capabilities include a no-code builder for business document applications, extensive metadata tools, customized dashboards, and integration with Box Relay for content workflows. The acquisition is expected to reshape how enterprises manage their content, offering seamless and customizable experiences.
The worldwide content services applications market is anticipated to grow significantly, reaching $23.8 billion in 2027. Box’s strategic move aligns with the growing need for organizations to modernize content management and overcome challenges related to productivity, security, and cost.
While the terms of the acquisition remain undisclosed, Box assures that Crooze customers will continue to be serviced as integration progresses. Pricing details and the roadmap for Box customers will be unveiled later this year, promising a new era in enterprise content management powered by the synergies of Box and Crooze.